Business Services Industry
Banco Popular North America to Resume Buying Banks in South Florida.
Knight Ridder/Tribune Business News, January, 2003
By Barry Flynn, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Jan. 21--Money-laundering charges against Banco Popular de Puerto Rico stunted the growth of the bank's continental U.S. affiliate for almost three years, a top company executive has disclosed.
But now, with the money-laundering case settled, Banco Popular North America plans to resume buying other banks in South Florida, if not in Central Florida, said Roberto Herencia, chief executive of the company's Chicago-based U.S. bank.
In the Orlando market, where Banco Popular has nine offices, the bank has less expectation of acquisitions because there is less likelihood of any banks being put up for sale, Herencia said.
The two banks' parent company,...
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